Homebuyers attracted to cheaper living

Homebuyers attracted to cheaper living

18 October 2010 by Staff Reporter 0 comments

Belinda Luc

Home buyers are becoming more active in the outer suburbs where the cost of living is cheaper, according to Raine & Horne.

Port Macquarie on NSW’s north coast is enjoying a significant uptick in buyer demand.

Raine & Horne Port Macquarie principal Diane Deland said moderate climate and cost of living were proving major attractions for retirees and downsizers who were looking for a sea change.

According to Raine and Horne, Sydney’s electricity costs rose 60 per cent between June 2005 and June 2010. Over the same period, Canberra costs jumped 46 per cent.

“With gas and electricity prices increasing considerably, it’s cheaper to live in towns like Port Macquarie,” Ms Deland said.

“The combination of an excellent climate and Port Macquarie’s housing affordability is also a big attraction," she said.

According to Ms Deland, retirees can sell a city home or rural property and purchase a near new, four bedroom, ensuite house for between $400,000 and $500,000 in the Innes Lake area “about 10 minutes from the CBD”.

“This leaves enough money to fund a decent retirement,” she said.

Belinda Luc

Home buyers are becoming more active in the outer suburbs where the cost of living is cheaper, according to Raine & Horne.

Port Macquarie on NSW’s north coast is enjoying a significant uptick in buyer demand.

Raine & Horne Port Macquarie principal Diane Deland said moderate climate and cost of living were proving major attractions for retirees and downsizers who were looking for a sea change.

According to Raine and Horne, Sydney’s electricity costs rose 60 per cent between June 2005 and June 2010. Over the same period, Canberra costs jumped 46 per cent.

“With gas and electricity prices increasing considerably, it’s cheaper to live in towns like Port Macquarie,” Ms Deland said.

“The combination of an excellent climate and Port Macquarie’s housing affordability is also a big attraction," she said.

According to Ms Deland, retirees can sell a city home or rural property and purchase a near new, four bedroom, ensuite house for between $400,000 and $500,000 in the Innes Lake area “about 10 minutes from the CBD”.

“This leaves enough money to fund a decent retirement,” she said.

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
REVEALED: The 10 best agents in Australia for 2017

For the first time ever, the top 10 agents in the REB Top 100 Agents ranking are revealed in this exclusive podcast. ...

View all podcasts

Are dodgy agents being punished enough?

Yes (8.6%)
No (55%)
Only in some states (2.3%)
Not all dodgy agents are being found out (34.1%)

Total votes: 220
The voting for this poll has ended on: April 15, 2017
Do you have an industry update?